Btp-Bund spread at 131 points, European stock markets rising despite the drop in oil prices

The spread continues to rise. The differential between BTPs and Bunds, since the start of the swing, reaches 131 basis points, still at April 2025 levels. The yield on the Italian ten-year bond also rises to 4.7 percent.

European stock markets on the rise with a focus on Hormuz and employment data in the United States which could have a specific impact on the path of the Fed's interest rates. The Old Continent area index, the Stoxx 600, rises by more than half a percentage point with the impetus above all of the technological ones. Financials and energy, however, remain weak. The latter with the drop in oil prices. Brent remains below 100 dollars (-2.4%) while WTI is below 90 dollars (-3.7%). The decline is believed to be due to rumors that some European countries are discussing the release of strategic reserves to mitigate the surge in fuel prices. The price of gas drops 1.27% with TTF contracts at 73 euros per megawatt hour.